The first pre‑market session of this critical Fed week is being driven less by blue‑chip drama and more by violent moves in tiny, speculative names. As of early trading on Monday, December 8, 2025, U.S. index futures were modestly higher — S&P 500 +0.11%, Nasdaq 100 +0.20%, Dow Jones +0.04% and Russell 2000 +0.34% — but a cluster of micro‑ and small‑cap stocks were already down double‑digits before the opening bell. [1]
Below is a deep dive into today’s top pre‑market losers, what is driving each move, and how current forecasts and analysis frame the risk–reward backdrop.
Market Context: Fed Week, Quiet Futures – Wild Microcaps
Wall Street is entering the most important week of December with the Federal Reserve widely expected to cut interest rates at its final policy meeting of 2025. U.S. stock futures are drifting higher but remain relatively calm as traders wait for Wednesday’s decision and updated economic projections. [2]
At the same time, Google News and brokerage feeds are dominated by two themes:
- Macro: “Fed rate cut week” and 2026 return forecasts for the S&P 500. [3]
- Micro: Massive reversals in hyper‑volatile small caps that exploded higher last week on speculative news, funding announcements and listing‑compliance headlines.
Today’s top 10 pre‑market losers come almost entirely from this latter group.
Top 10 Pre‑Market Losers (U.S.) – December 8, 2025
According to StockAnalysis.com’s pre‑market movers page, these are the largest percentage decliners before the open today: [4]
- Polyrizon Ltd. (NASDAQ: PLRZ) – ‑21.1%, pre‑market price $10.34
- Inspire Veterinary Partners, Inc. (NASDAQ: IVP) – ‑19.4%, pre‑market $0.08
- Wheeler Real Estate Investment Trust, Inc. (NASDAQ: WHLR) – ‑16.7%, pre‑market $5.34
- SMX (Security Matters) PLC (NASDAQ: SMX) – ‑14.8%, pre‑market $282.88
- Fly‑E Group, Inc. (NASDAQ: FLYE) – ‑13.8%, pre‑market $7.13
- The Growhub Limited (NASDAQ: TGHL) – ‑12.7%, pre‑market $0.41
- CPI Aerostructures, Inc. (NYSE: CVU) – ‑11.5%, pre‑market $2.55
- trivago N.V. (NASDAQ: TRVG) – ‑11.3%, pre‑market $2.76
- iOThree Limited (NASDAQ: IOTR) – ‑11.2%, pre‑market $2.93
- PharmaCyte Biotech, Inc. (NASDAQ: PMCB) – ‑10.7%, pre‑market $1.09
All prices and percentage moves are approximate and based on early pre‑market data; they may change materially by the opening bell.
Let’s unpack what’s happening with each name, and how current news, forecasts and analyses frame their outlook as of December 8, 2025.
1. Polyrizon Ltd. (PLRZ): Biotech Rocket Takes a Breather
Move: ‑21.1% pre‑market to about $10.34, after closing Friday at $13.10. [5]
What Polyrizon does
Polyrizon is an Israel‑based biotechnology company developing intranasal hydrogel products using its Capture & Contain (C&C) platform. Its lead candidate, PL‑14 “Allergy Blocker”, is designed as a non‑drug barrier spray that traps airborne allergens and potentially respiratory viruses in the nasal cavity. [6]
Why PLRZ exploded higher last week
On December 2, 2025, Polyrizon announced the successful completion of a major manufacturing upscaling milestone for PL‑14, moving from small‑batch lab production to larger‑scale, controlled manufacturing runs that meet key quality specifications. [7]
Coverage from outlets such as Investing.com, RTT News and StockTitan highlighted:
- A critical step toward supplying clinical trials planned for 2026
- Validation of the company’s CDMO‑based manufacturing strategy
- Exposure to a seasonal allergic rhinitis market estimated around $11.1 billion in 2025, with growth projected into the next decade. [8]
The market went into full speculative mode:
- RTT News reported PLRZ shares surged about 103% to $14.36 on Thursday following the milestone update. [9]
- Other outlets tracked intraday and after‑hours moves of 100–140% and massive volume spikes, describing the move as a “frenzy” fueled by pre‑clinical data and manufacturing progress. [10]
Technical view & forecast
Technical site StockInvest.us notes that PLRZ:
- Closed Friday at $13.10, down 9.66% on the day but still up 273% over the prior two weeks.
- Trades with extreme volatility, with a 35% intraday range on Friday alone.
- Is rated a short‑term “Buy candidate,” but their model actually expects the price to fall about 6% over the next three months, with a 90% probability band between $2.86 and $13.62 given the wide trend channel. [11]
For today’s session (Dec 8), StockInvest projected a fair opening price near $12.48 and an intraday range of roughly ±14.6%, underscoring just how wild the swings can be. [12]
Takeaway
Today’s pre‑market slump in PLRZ looks like classic post‑parabolic profit‑taking in a nano‑cap biotech that just delivered a major, but still pre‑clinical, milestone. The fundamental story has improved, but the stock remains development‑stage, non‑revenue and extremely high risk.
2. Inspire Veterinary Partners, Inc. (IVP): Listing Risk Weighs Heavily
Move: ‑19.4% pre‑market to around $0.08, on the heels of a tiny $0.1025 close last week and a market cap under $1 million. [13]
Business snapshot
Inspire Veterinary Partners operates and acquires companion‑animal veterinary hospitals across the U.S., focusing on medical care and practice consolidation. [14]
The real problem: Nasdaq listing drama
The stock’s slump is less about daily operations and more about survival on Nasdaq:
- On April 10, 2025, IVP received notice that it failed Nasdaq’s stockholders’ equity requirement, triggering a compliance clock. [15]
- The company later regained compliance with certain listing standards in September 2025, as highlighted in multiple regional press‑release pickups. [16]
- However, by November 17, 2025, Nasdaq notified Inspire that it had fallen below the minimum $1 bid price requirement under Listing Rule 5550(a)(2), and warned that trading could be suspended absent a meaningful plan. [17]
- In a follow‑up disclosure, Inspire confirmed it requested a hearing before Nasdaq’s Hearings Panel, which temporarily stayed delisting, with the hearing set for January 13, 2026 — but explicitly cautioned there was no assurance it would maintain its listing. [18]
This overlay of chronic non‑compliance and potential delisting has kept pressure on the stock.
Forecasts and sentiment
- StockInvest.us calls IVP a “Sell candidate” since late October, noting the stock has fallen over 88% during that signal and declined in 6 of the last 10 sessions into early December. [19]
- An AI‑driven model at Danelfin assigns IVP an AI Score of 3/10 (“Sell”), estimating the stock has a lower‑than‑average probability of beating the S&P 500 over the next three months. [20]
- By contrast, a quantitative forecast at StockScan.io spits out a 30‑day average price target of about $3.42, implying theoretical upside of more than 3,200% from the current price — a reminder that algorithmic targets can be wildly disconnected from actual listing and liquidity realities. [21]
Takeaway
Today’s pre‑market drop is consistent with a slow‑motion repricing of delisting risk. Until there is clarity from the January Nasdaq hearing — or a credible recapitalization plan — IVP remains a binary, lottery‑ticket‑style microcap where dilution and delisting are front‑and‑center concerns.
3. Wheeler Real Estate Investment Trust (WHLR): Post‑Earnings Hangover
Move: ‑16.7% pre‑market to about $5.34. [22]
What WHLR does
Wheeler Real Estate Investment Trust is a small‑cap REIT focused on grocery‑anchored shopping centers, mainly in secondary and tertiary markets.
Q3 2025 earnings: big improvement, then big spike
Late last week, WHLR released Q3 2025 earnings, which triggered a dramatic rally:
- TipRanks reports Q3 diluted EPS of ‑$0.83, a huge improvement from ‑$14.77 a year earlier.
- Revenue of $23.82 million was slightly lower year‑over‑year (‑3.9%), primarily due to property sales, but management highlighted same‑property NOI growth of 4.2% and disciplined capital management. [23]
- The same article noted WHLR stock was up 88% in pre‑market trading on the day of the release, after already gaining around 4% the previous session, even though the stock remained down over 99% year‑to‑date. [24]
A StockstoTrade write‑up framed the results as sentiment‑improving but not thesis‑changing, emphasizing that leverage and past dilution still hang over the name. [25]
Forward view
TipRanks’ AI “Spark” tool rates WHLR Neutral (score 49/100) with a $3.50 price target, citing operational improvements but warning that the company still needs to prove sustainable value creation for both common and preferred shareholders. [26]
Takeaway
After an earnings‑driven short squeeze, today’s pre‑market sell‑off looks like mean‑reversion in a heavily damaged REIT. Even after improving EPS, WHLR remains a highly speculative REIT turnaround story with thin coverage and a history of value destruction.
4. SMX (Security Matters) PLC (SMX): After the 300% Mania
Move: ‑14.8% pre‑market around $282.88 (post‑multiple reverse splits). [27]
Business snapshot
SMX develops “material intelligence” solutions — molecular markers and verification systems that allow materials (from gold to plastics) to carry a tamper‑proof identity through global supply chains. [28]
The $111.5 million equity deal that lit the fuse
On December 1, 2025, SMX announced a $111.5 million equity purchase agreement with a financing partner:
- The structure includes an $11.5 million promissory note and access to up to $100 million in additional capital at SMX’s discretion, with no mandatory issuance and no penalties for slow drawdowns. [29]
- Company‑authored pieces and press‑release pickups framed this as “financial architecture” to support a decade of acceleration in rolling out material intelligence across industries. [30]
Meanwhile, trading blogs and fintech outlets chronicled a spectacular rally:
- TradingView and other sites reported SMX common stock soared nearly 300% over two trading days, driven by news of the financing, prior reverse splits and a potential short squeeze in a float near 1 million shares. [31]
- Benzinga and RagingBull highlighted the stock being up over 1,000% for the month, calling it a high‑risk microcap rocket where future outcomes hinge on real contract wins and cash discipline. [32]
Why it’s down today
Nothing in the last 24 hours materially changes the SMX story — the big catalysts are still the equity facility and partnerships. The pre‑market drop instead appears to reflect:
- Profit‑taking after a historically extreme weekly move
- Renewed worries about future dilution, since equity purchase agreements often lead to share issuances over time
- Ongoing skepticism after a history of multiple reverse splits and prior 99% drawdowns earlier in 2025. [33]
Takeaway
SMX is the embodiment of high‑beta Fed‑week speculation: a transformative story on paper, financed by a dilutive‑but‑flexible equity line, trading with a minuscule float after a long string of reverse splits. Today’s pre‑market loss is small relative to last week’s gains, but the risk of violent swings in both directions remains extremely high.
5. Fly‑E Group, Inc. (FLYE): Electric Two‑Wheelers Under Pressure
Move: ‑13.8% pre‑market to about $7.13. [34]
What FLYE does
Fly‑E Group operates under the Fly E‑Bike brand, selling and renting electric bikes, scooters and motorcycles through a growing network of retail stores and partners in North America and abroad. [35]
Recent fundamental picture
StockTitan’s Rhea‑AI summaries and company releases show a mixed 2025:
- FY 2025 results: revenue fell 21% to $25.4 million, with a swing from $1.9 million net income to a $5.3 million net loss, driven by safety‑related battery concerns, store closures and higher operating costs. [36]
- Offsetting that, Fly‑E improved gross margin to 41.1%, expanded higher‑margin rental services and executed a $6.94 million public offering to bolster inventory and production capacity. [37]
- In mid‑2025, the company completed a 1‑for‑5 reverse stock split and later regained compliance with Nasdaq’s minimum bid price requirement, after the stock traded above $1 for 11 consecutive days. [38]
More recently, FLYE has pushed expansion:
- Opened a new Boston retail store in August 2025. [39]
- Entered the Mexican market with a retail store and a strategic partnership to deploy smart mobility and IoT‑enabled two‑wheelers across Latin America. [40]
StockTitan’s FAQ section pegs the stock price around $8.27 and market cap near $16.3 million as of December 5, 2025, underscoring how small the company still is. [41]
Takeaway
FLYE’s pre‑market drop appears to be technical and sentiment‑driven, following a sharp multi‑month rebound off sub‑$1 levels. The underlying story is a high‑risk, early‑stage EV retailer balancing growth initiatives against safety concerns, rising costs and heavy reliance on capital markets.
6. The Growhub Limited (TGHL): Thinly Traded, Technically Stretched
Move: ‑12.7% pre‑market to about $0.41. [42]
TGHL is a tiny U.S.‑listed company with a market cap near $12 million and a 52‑week range of $0.29 to $4.25. [43] There has been little fresh, company‑specific news in the last few days, and Investing.com’s coverage focuses more on general valuation tools and fair‑value models than any new catalyst. [44]
Given its extremely small size and low liquidity, today’s move likely reflects:
- Mean‑reversion after a 17%+ gain into Friday’s close, noted on Investing.com’s quote page. [45]
- Traders rotating out of micro‑caps that rallied alongside SMX and PLRZ, using early‑session liquidity to exit.
Without a clear news driver, TGHL sits firmly in the “trader’s ticker” bucket rather than a fundamental story for long‑term investors.
7. CPI Aerostructures, Inc. (CVU): Technical Pullback in a Small Defense Supplier
Move: ‑11.5% pre‑market to about $2.55. [46]
What CVU does
CPI Aerostructures is a small aerospace and defense contractor, supplying aircraft structural assemblies and subassemblies to major OEMs and the U.S. military.
Technical setup and forecast
StockInvest.us provides a detailed technical view as of the December 5, 2025 close: [47]
- CVU closed Friday at $2.88, up 1.05% on the day.
- The stock has risen in 6 of the last 10 sessions, gaining 8.27% over two weeks.
- Volume increased alongside price, a positive momentum signal.
- The share price sits in the upper part of a wide, weak rising trend, which the model suggests could be a short‑term selling opportunity as price mean‑reverts to the lower trend band.
- StockInvest labels CVU a “Buy candidate”, expecting about 3.95% upside over the next three months, with a 90% probability range of $2.16–$3.02.
- For today (Dec 8), the system projected a fair opening near $2.88 and an intraday range of $2.78–$2.98, roughly ±6.9%.
The actual pre‑market quote near $2.55 is below the projected range, suggesting traders are front‑running a deeper pullback — or that a smaller sell order has pushed the thin pre‑market book lower than models assume.
Takeaway
With no new fundamental headline, CVU’s inclusion among top pre‑market losers looks like a technical correction after a quiet, positive run in late November. For traders, the key levels to watch are the support zone around $2.75 and the broader trend channel highlighted by technical services. [48]
8. trivago N.V. (TRVG): Solid Q3, Soft Pre‑Market
Move: ‑11.3% pre‑market to around $2.76. [49]
Business snapshot
trivago is a global hotel and travel metasearch platform, generating referral revenue by directing users to booking partners.
Q3 2025 results: momentum continues
The company reported strong Q3 2025 results in early November: [50]
- Total revenue €165.6 million, up 13% year‑over‑year.
- Referral revenue up 11%.
- Net income €11.0 million, compared with a €15.4 million loss a year earlier.
- Adjusted EBITDA €16.0 million, up 18% YoY.
- Management reiterated expectations for mid‑teens percentage revenue growth for full‑year 2025 with positive adjusted EBITDA.
The company also completed the acquisition of Holisto Limited on July 31, 2025, which contributed to results and is intended to strengthen its broader travel technology stack. [51]
Forecasts and sentiment
- StockAnalysis.com aggregates four Wall Street analysts who assign TRVG a “Buy” rating with an average 12‑month price target around $3.96, implying about 25% upside from recent prices. [52]
- Algorithmic forecasts from CoinCodex are more cautious, expecting the stock to rise only ~1.4% by December 30, 2025, and projecting a ~23.9% decline over the next year, highlighting the divergence between human analyst models and quantitative price‑pattern tools. [53]
Takeaway
TRVG’s pre‑market slide fits the broader pattern of profit‑taking in recent winners: the stock gained more than 10% over the last two weeks, according to StockInvest’s snapshot, before today’s pullback. [54] With fundamentals trending in the right direction but travel names sensitive to macro headlines and FX, TRVG remains a cyclical, sentiment‑driven trade into 2026.
9. iOThree Limited (IOTR): From “Buy Candidate” to Early‑Session Selloff
Move: ‑11.2% pre‑market to about $2.93. [55]
What we know
IOTR is a lightly covered, newly listed small‑cap (ordinary shares) in the tech/IoT space. Fundamental news has been sparse, so traders rely heavily on price action and technical indicators.
Technical profile
StockInvest’s December 5 update paints a familiar picture for speculative small caps: [56]
- IOTR closed at $3.30, up 8.37% on the day, with a 9.44% intraday range.
- The stock has gained 8.2% over the past two weeks, on rising volume.
- It sits in the upper part of a “very wide and falling trend” – typically a warning that short‑term rallies may be selling opportunities.
- Their model forecasts the stock could fall about 26.8% over the next three months, with a 90% range of $1.76–$2.43.
- Despite this, the site still flags near‑term buy signals from short‑ and long‑term moving averages, while warning that low volume increases risk.
For today’s session, the model expected an opening around $3.21 and an intraday range of $3.14–$3.46. The actual pre‑market quote below $3 suggests that sellers are stepping in earlier than expected. [57]
Takeaway
With no fresh operational news, IOTR’s drop is likely the first leg of the pullback that technical models already anticipated. For traders, this is a textbook example of why volatility bands and trend channels matter in thinly traded names.
10. PharmaCyte Biotech, Inc. (PMCB): Cash‑Rich, Catalyst‑Light
Move: ‑10.7% pre‑market to about $1.09. [58]
Business model
PharmaCyte is a small biotech company historically focused on its Cell‑in‑a‑Box® cell encapsulation technology, but in recent years it has shifted toward capital allocation, deploying a large cash balance into strategic stakes in other healthcare names. [59]
Recent corporate actions & cash position
While PMCB hasn’t issued major new press releases in the last few days, recent coverage summarized by StockTitan and Investing.com underscores:
- A historically strong cash position (around $65 million in prior years) with limited active clinical programs. [60]
- Strategic investments, including a $7 million investment in MyMD Pharmaceuticals in 2023 and a $5 million stake in women’s health company Femasys, Inc. [61]
- A more recent article from Investing.com notes PharmaCyte sold its Femasys stake, boosting its cash position to around $20 million as of late 2025, and positioning the company as a cash‑heavy microcap looking for value‑enhancing opportunities. [62]
StockTitan’s FAQ pegs PMCB’s share price at roughly $1.22 and market cap around $8.2 million as of December 5, highlighting that the cash on the balance sheet may be materially larger than the equity value, a setup that often attracts event‑driven and activist investors. [63]
Takeaway
With no fresh catalyst today, PMCB’s pre‑market weakness likely reflects liquidity‑driven selling rather than news. The broader story remains that of a cash‑rich, high‑optionality biotech shell where future shareholder returns depend on management’s capital allocation — new deals, buybacks, or a strategic transaction.
What Today’s Pre‑Market Losers Tell Us
Looking across this morning’s worst performers, a few clear themes emerge:
- Speculation Unwinding
- Names like PLRZ and SMX exploded on highly promotional but real milestones (manufacturing scale‑up, large equity lines) and now face air pockets when momentum stalls. [64]
- Listing and Capital‑Structure Risk
- Microcap Illiquidity
- Stocks like TGHL, IOTR, CVU and PMCB can move double digits on relatively small pre‑market orders, making printed percentage moves more about order‑book depth than fundamental repricing. [67]
- Macro Backdrop Is Calm – For Now
- Despite these dramatic individual moves, index futures are relatively steady, as Wall Street focuses on the Fed’s expected rate cut and 2026 return forecasts rather than individual microcaps. [68]
How Traders and Investors Might Approach These Names
Nothing in this article is investment advice, but Fed‑week pre‑market screens can be a trap if you only look at the percentage column. A few practical considerations:
- Check the story, not just the chart
Before trading a 20–30% pre‑market drop, dig into recent press releases, SEC filings and funding deals. Today, for example, PLRZ’s decline comes after an enormous biotech rally, while IVP’s reflects structural listing risk. - Respect liquidity and volatility
Many of today’s losers — PLRZ, SMX, TGHL, IOTR, PMCB — are thinly traded microcaps where bid–ask spreads and small orders can drive huge percentage swings. - Understand the capital structure
Frequent reverse splits, equity purchase agreements and follow‑on offerings are common across this list. Those structures can create powerful short‑term moves but often lead to long‑term shareholder dilution. - Align with your time horizon
Analyst and quantitative forecasts (like those from StockInvest, CoinCodex, and others) can give a sense of probable ranges, but they can’t eliminate event risk, especially in development‑stage biotech and tiny tech names. [69]
Final Word
The top pre‑market losers on December 8, 2025 highlight a market where micro‑cap speculation is running hot, even as the broader indices tread water ahead of the Fed. For traders, these names can offer short‑term opportunities, but they also come with elevated risk of dilution, delisting and extreme volatility.
If you’re considering trading any of these stocks, it’s critical to:
- Review the latest filings and press releases
- Size positions appropriately for their risk profile
- Be prepared for fast, unexpected moves once the regular session begins
And, as always, consider speaking with a qualified financial adviser before making decisions based on pre‑market moves.
References
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